Closed Business | File Photo
Closed Business | File Photo
Small businesses are in danger of closing up shop for good while large corporations are likely to grow more during the pandemic.
According to The Epoch Times, at least 13.9 million small businesses across the nation are in danger of stopping operations for good by April 1. The statistics come from a recent industry report conducted by small business referral network Alignable.
Alignable has been monitoring small businesses’ activities and they say that customer confidence is at an all-time low due to the pandemic. Business owners who have spoken with Alignable say that their customers are too afraid to visit their stores and purchase something because of the global pandemic. In order for their businesses to survive they need customers to regain their pre-pandemic confidence and start spending money again.
One business owner told Alignable that he has “zero” income because of the pandemic.
Even businesses that can thrive during a lockdown are struggling to survive. One business owner reveals that his online editing and writing business is struggling to stay afloat despite not needing to use office space for it to keep operating. He said that his customer base is “completely gone” because most of them could no longer afford to pay for advertising or marketing.
The business owner said that some of his customers had to close up shop permanently while others had to cut back on their marketing efforts by almost 100 percent. This created a domino effect wherein his business is affected and he fears that his business might also shut its doors for good.
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